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COVID-19 Impact on Gambling and Banking: A Comparison

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  • Dominic Cortis

Abstract

Purpose: The gambling industry has been slowly shifting to online as more jurisdictions are allowing for online betting. The effect of the COVID-19 pandemic has accelerated the growth of online competitors but what can participants bet on if there are no sports events? Moreover the set-up of this industry has been also disrupted by the COVID-19 pandemic. In this paper, we discuss the impact of the pandemic on the gambling and the banking industry. Design/Methodology/Approach: We interview 21 professionals based in Malta, an EU country which is considered as a hub for operations of online gambling operators. Findings: Despite serving different aims, they share some similarities as both operate in highly regulated environments. We find that COVID-19 has been acting as a catalyst for both industries to accelerate changes. Originality: The gaming industry is a multi-billion euro industry but there are few academic discussions focusing on their operations. Our paper is unique in focusing on the challenges of this industry during the pandemic

Suggested Citation

  • Dominic Cortis, 2021. "COVID-19 Impact on Gambling and Banking: A Comparison," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 11(3), pages 27-36.
    • Handle: RePEc:ers:ijfirm:v:11:y:2021:i:3:p:27-36
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    More about this item

    Keywords

    Gambling; covid-19; operational risk; banking; esports.;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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